Eventbrite, the ticketing and event-management company, gained 58% in its stock-market debut on Thursday. Shares opened for trading at $US36 – 56% above their initial public offering price of $US23 – before settling at $US36.29 apiece. The company raised $US230 million through its IPO after selling 10 million shares.

In its S-1 filing, Eventbrite said it hoped to use the proceeds to increase its capitalisation and financial flexibility and to pay off its debt – which stands at $US66.36 million. Eventbrite said it sold 46.7 million tickets last year and posted a net loss of $US38.55 million. The company said it lost $US15.58 million in the first six months of this year.

In the past 12 years as a private company, Eventbrite has raised $US332 million. Tiger Global Management owns a 20.8% stake, followed by Sequoia Capital at 17.6% and the company’s cofounder and CEO, Julia Hartz, with 14.6%.

The offering was led by Goldman Sachs Group Inc., Allen & Co., JPMorgan Chase & Co., and Royal Bank of Canada.